Foreign investment sees November surge

Update:
November, 27/2012 - 10:41

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Fabric is being produced at the Korean-invested Kaps Tex Vina's factory in the mountainous province of Phu Tho. The country attracted nearly $12.2 billion in newly-registered FDI in 11 months. — VNA/VNS Photo Pham Hau

HA NOI (VNS)— Newly-registered foreign investment totalled US$1.7 billion nationwide in November, an increase of 8 per cent over the same period last year, according to figures released by the Ministry of Planning and Investment's Foreign Investment Agency.

Disbursements of foreign direct investment (FDI) reached only $900 million during the month, however, representing a slump of 5 per cent from the same month last year.

In the period between January and November, the country attracted nearly $12.2 billion in newly-registered FDI, and disbursements sank by 2 per cent to a total of $9.9 billion.

Over half of new FDI during the period went to 980 newly-licensed projects, worth a combined total of $7.25 billion – a figure equivalent to only 61 per cent of that in the same period last year. However, capital added to existing projects surged by 42 per cent over last year to $4.9 billion.

Japan remained leading source of foreign investment, accounting for over $5 billion or 42 per cent of total registered FDI. It was followed by Singapore, South Korea, Samoa and the British Virgin Islands.

The southern province of Binh Duong was the top FDI destination ($2.3 billion), following by HCM City ($1.14 billion), the southern province of Dong Nai ($1.12 billion) and the northern port city of Hai Phong ($1.1 billion).

Processing and manufacturing industries attracted $8.5 billion in capital, accounting for over 70 per cent of total FDI. Real estate ranked second, attracting $1.8 billion or 15 per cent of the total. Other sectors attracting significant amounts of FDI included telecommunications, retail, wholesale distribution, logistics, hospitality and healthcare. — VNS